Entries by GRC Solutions

Compliance Evangelist & GRC Solutions – Podcast

Justin Muscolino, our Head of Compliance Training North America has been interviewed by Tom Fox – Compliance Evangelist in this very informative podcast where they talk all about compliance training and how to help organizations. This podcast is available on Spotify, iTunes, YouTube and Megaphone. Some of the highlights include: Why do organizations struggle so much with culture and what […]

Protecting whistleblowers isn’t just a compliance exercise, it’s good for business

Some of the world’s most significant cases of corporate fraud and misconduct first came to light as a result of whistleblower disclosures.  Sherron Watkins and Cynthia Cooper, then-employees of Enron and Worldcom respectively, were key to exposing the massive accounting fraud schemes underlying the businesses.  Jeffrey Wigand was Vice President of Research and Development at Brown & Williamson Tobacco […]

Counterfeit goods: fraud, terrorist funding and third party risks

Everyone loves a bargain, but the true cost of counterfeit goods to businesses and individuals is complex and often deeply chilling. A US1.7 trillion-dollar problem and counting We often think of the counterfeit goods industry as tourists browsing through “luxury” sunglasses, watches and handbags, care of a street vendor, or maybe a clandestine showroom. But that’s […]

GRC SOLUTIONS WINS DOUBLE PLATINUM AT LEARNX IN 2019

GRC Solutions has won the top compliance training and custom development awards in the Asia Pacific at the LearnX Live! Awards 2019. The LearnX Foundation’s annual awards represent the industry standard in the region. GRC has good form at the awards, having won for our online compliance training every year since 2008. This year, we […]

What is an effective compliance program?

An effective compliance program is obviously important to have. But to put a proper program into effect, you need to understand what one should look like. Most people only want to do what the regulators want and not what’s best for their organization. If you implement a program that addresses all your risks with the […]

7 Tips for Creating a Successful Compliance Training Program

In this blog post, Justin Muscolino, GRC Solutions’ Head of Compliance Training in North America, gives tips on how to create a successful compliance training program. This blog post has been created in partnership with eThink Education. Many organizations struggle with constructing a solid compliance training program. It’s not a hard chore, but it requires […]

1MDB case: Trial into global corruption scandal begins

The trial against former Malaysian Prime Minister Najib Razak has continued to unveil the depth of corruption involving 1Malaysia Development Berhad (1MDB). Over two hearings at Malaysia’s High Court, Mr Razak has so far pleaded not guilty to seven charges relating to criminal breach of trust, money laundering, and abuse of power surrounding the theft […]

GO1 & GRC Solutions Partner

GRC Solutions is excited to announce a partnership with GO1. This collaboration brings together one of the leading providers of compliance training with one of the world’s fastest growing marketplaces for eLearning. GO1 Premium users will now have access to an ever-growing list of titles from GRC Solutions that address critical governance, risk and compliance topics. […]

The business of ethical decision-making

What do we mean when we talk about ethical decision-making in a professional context, such as business ethics? ‘Ethics’ is really just a set of rules for behaviour. They may be specific rules, such as “Always declare any conflict of interest before your board starts discussing a relevant issue”. They may be general rules, such […]

How to develop a summary for your training needs analysis

In this excerpt, Justin Muscolino, GRC Solutions’ Head of Compliance Training in North America, explains how to develop a summary for your training needs analysis. When creating your summary for a needs analysis, you need to understand the organizational goals and objectives as well as regulators’ expectations. In the financial industry there are several regulators, but your organization […]

College admissions bribery scandal

An FBI investigation known as ‘Operation Varsity Blues’ has found a network of celebrities, business executives and other powerful figures at the center of a college admissions bribery scandal. A Californian tutoring organization called the Key is alleged to have made $US25 million by charging parents to secure their children spots in elite schools, including […]

NO COUNTRY IMMUNE TO CORRUPTION

If the Corruption Perceptions Index (CPI) results for 2019 prove anything, it’s this: no country is immune to corruption. In fact, out of 180 countries, not one earns a perfect score, with the average global score being 43 out of 100. The USA dropped out of the top 20 countries altogether. Transparency International (TI) started the […]

eThink Education & GRC Solutions Partner

GRC Solutions is excited to announce a partnership with eThink Education, a leading Learning Management System (LMS) solutions provider. Through this alliance, eThink will be able to offer clients the ability to deploy highly effective compliance eLearning which can be customized to suit their employee training strategy. GRC Solutions are global leaders in Governance, Risk and Compliance training. They are regulatory compliance […]

How to begin developing a training needs analysis

A needs analysis should not be taken lightly. The overall goal is to ensure from a compliance training standpoint that all organizational risks are covered. During the needs analysis stage, the key is to gather as much data as possible to formulate your training plan. If certain data is missed, the organization, the Chief Compliance […]

Understanding your target audience to create more effective eLearning training

In this blog post, Justin Muscolino, GRC Solutions’ Head of Compliance Training in North America, discusses the importance of understanding who the audience is for your compliance training. When I first started in compliance training, I remember having a conversation with a senior member of a financial institution about an upcoming eLearning module. During the […]

Training Compliance Officers

In this blog post, Justin Muscolino, GRC Solutions’ Head of Compliance Training in North America, reflects on the benefits of having a training program for Compliance Officers. During my career in compliance training I’ve learned first-hand that you need all the assistance you can get. It’s important to get others involved in delivering your message. […]

Workplace bullying more common than you think

A missed invitation to the annual staff celebration. A group of colleagues snickering as you walk past. A snide remark about what you’re wearing as you sit down at your desk. By themselves, it would be easy to dismiss each of these incidents as the usual obstacles of navigating your workplace’s social hierarchy. But together they […]

Justin Muscolino Joins GRC Solutions’ US operations

GRC Solutions is pleased to announce that Justin Muscolino has joined our New York operations as Head of Compliance Training Operations in North America.  Justin draws on his longstanding experience in compliance, training and regulation for the banking sector. He was Macquarie Group’s Head of Americas Compliance Training and JP MorganChase’s Compliance Training Manager. More recently, he served as Head […]

Three tips for your new year’s compliance checkup

January may signify the loss of sun-drenched beachside holidays as you readjust to business as usual, but it’s also an opportune time to refresh your organisation’s objectives and check in with staff to begin the year on a positive note. Setting ambitious sales targets and devising strategies for new clients may be top of the […]

Morgan Stanley pays penalty for employee fraud

On 29 June 2018, Morgan Stanley Smith Barney LLC (Morgan Stanley), an investment adviser and broker-dealer, agreed to pay US$3.6 million penalty for failing to prevent its employee from misappropriating funds from client accounts. Background Barry F. Connell, a financial adviser at Morgan Stanley, misappropriated $7 million from client accounts. The theft was possible because […]

What do you need to know about the GDPR

You may have noticed a flurry of privacy policy updates in your inbox in the last few weeks. There’s a good reason for that – the GDPR is here and it could apply to you. What is the GDPR? The EU’s General Data Protection Regulation (GDPR) commenced on May 25 2018, and its impacts are […]

Australia’s biggest bank to pay AUD$702.5 million to settle anti-money laundering case

The Commonwealth Bank of Australia (CBA) has agreed to pay the biggest money laundering penalty in the country’s history to settle the current case against it for 53,700 breaches of its anti-money laundering and counter-terrorist financing (AML/CTF) laws. The money laundering case arose from claims by Australia’s financial intelligence agency, AUSTRAC, that the bank had […]

Starbucks shuts stores for a day for anti-bias training

On 29 May 2018, Starbucks, one of the world’s largest coffeehouse chains, closed its business in the US for the day across 8000 stores to provide its employees with anti-bias and diversity training. Background On 12 April 2018, six police officers in Philadelphia took two black men into custody at a Starbucks store after an […]

Cyber security alert: Major ransomware attack on city of Atlanta

The Cyberattack On 22 March 2018, a ransomware attacker encrypted the city of Atlanta’s IT systems before allegedly demanding a ransom to decrypt them. Encryption involves converting information into code so that the information can only be read by using a key to convert the code into a readable format. Consequences of the attack The […]

Keppel Corp involved in US$1 billion bribery scandal

Keppel Corp, Singapore’s oil rig builder, is embroiled in one of the biggest international bribery and corruption scandals Singapore has seen in recent times. Investigations revealed Keppel Offshore & Marine’s (KOM) involvement in a scheme that ran from 2001 to 2014 which paid US$55 million in bribes to win contracts with Brazilian company Petrobas. The […]

Hollywood harassment and your workplace

How celebrity scandals dictate how corporate America deals with sexual harassment Looking back onto 2017, one prominent issue has dominated the headlines: sexual harassment. Never before has there been such a strong and persistent focus on calling out perpetrators of harassment. In the wake of sexual misconduct revelations about Harvey Weinstein, Kevin Spacey, Matt Lauer […]

GRC Solutions attends the American Banker RegTech “Compliance Transformed” Conference

On October 3rd and 4th 2017 GRC Solutions consultant Matt Wadley attended the American Banker RegTech “Compliance Transformed” Conference in Brooklyn, New York. The conference sought to bring together banks, regulators, venture capitalists, consultants and regtech vendors for a discussion about how the emergence of a new RegTech industry is transforming how financial institutions approach compliance—making it […]

Why diversity and equality matters: the cautionary tale of Uber

Legendary management consultant Peter Drucker once said, “Culture eats strategy for breakfast”. Perhaps Uber – and particularly its recently-departed CEO Travis Kalanick – had never heard of the quote or decided that revenue and expansion were more important than treating employees with basic decency. Former Uber employee Susan Fowler blew the whistle on the infamous […]

Millions of dollars of celebrity’s jewellery linked to 1MDB case

Australian model Miranda Kerr is the latest celebrity to be caught up in Malaysia’s 1Malaysia Development Berhand (1MDB) corruption and money laundering scandal. Malaysian financier Jho Low gifted Kerr USD$8 million worth of jewellery allegedly paid for with funds misappropriated from the 1MDB fund. Kerr recently turned the jewellery over to US authorities and has […]

US anti-money laundering framework has “severe deficiencies” when it comes to the real estate market, says Transparency International

Global anti-corruption organization Transparency International has revealed that the US real estate industry has severe anti-money laundering deficiencies. The “Doors Wide Open” report identifies 10 prominent legal loopholes and regulatory failures allowing criminals to launder stolen money through luxury real estate purchases in the US, the UK, Canada and Australia. The report alleges that the […]

GRC Solutions’ Certified Compliance Professional courses in Nairobi and Dubai a big success

The GRC Solutions Singapore team has conducted another two highly successful runs of the Certified Compliance Professional course, in Nairobi, Kenya and Dubai, UAE. Covering a total of 18 compliance practitioners across these jurisdictions, GRC Solutions continues to prove to be a valuable partner to the compliance profession, working alongside industry and regulators to upskill […]

US Department of Justice (DOJ) publishes new evaluation guidance for compliance programs

US Department of Justice (DOJ) publishes new evaluation guidance for compliance programs The DOJ’s Fraud Section recently released its Evaluation of Corporate Compliance Programs, containing guidance on 11 key topics considered by federal criminal investigators when assessing corporations. The 11 topic areas: Analysis and Remediation of Underlying Misconduct Senior and Middle management Autonomy and Resources […]

GRC Solutions appointed eLearning partner for Stockbrokers and Financial Advisers Association

In a joint first, GRC Solutions, a global leader in innovative compliance training, has been appointed e-learning partner for the Stockbrokers and Financial Advisers Association (SAFAA). The partnership coincides with last week’s announcement by Kelly O’Dwyer, Minister for Revenue and Financial Services, that new requirements to raise the competency and ethical conduct standards of financial […]

Samsung chief Lee Jae-yong arrested on bribery and corruption charges

The de facto head of the Samsung empire, Lee Jae-yong, has been arrested and is facing various corruption charges relating to bribery, embezzlement, illegal transfer of overseas assets and perjury. The charges against Mr Lee, known as Jay Y. Lee in many business circles, relate to the national bribery and corruption scandal that led to […]

Deutsche Bank fined US$630 million for inadequate anti-money laundering controls

Deutsche Bank has been fined by both UK and US authorities for failing to implement proper anti-money laundering control frameworks, which resulted in clients illegally moving US$10 billion out of Russia. Britain’s Financial Conduct Authority (FCA) fined Deutsche Bank US$204 million and the New York Department of Financial Services fined them US$425 million. The authorities […]

Whitepaper by Lyndon Lovell published by the Australian Institute of Training and Development

Recently our senior consultant Lyndon Lovell produced a whitepaper entitled Scientifically proven brain rules that work in training. We are delighted that the Australian Institute of Training and Development has since chosen to feature the article in its publication, Training & Development Magazine. GRC Solutions prides itself on being a thought leader in the field […]

GRC Solutions – Year in Review

2016 is drawing to a close and it has been another fascinating year. Here at GRC Solutions there has been a lot of exciting stuff going on. In January we opened our New York office, headed up by Matt Wadley, a Brisbane boy who has called the US home for the last 20 years. We […]

GRC Solutions Wins Silver in the 2016 Brandon Hall Group Excellence in Technology Awards Program

Best Advance in Learning Management Technology for Compliance Training GRC Solutions, an international leader in innovative compliance training and RegTech, has won a coveted Brandon Hall Group award for excellence in the category of Best Advance in Learning Management Technology for Compliance Training. GRC Solutions’ Silver Award win was announced on December 15th in Florida, […]

Insights from Singapore Fintech Festival 2016

Julian Fenwick, Managing Director GRC Solutions, recently attended the inaugural Singapore Fintech Festival. Here he captures insights from the event. “A network of companies focused on developing common technological solutions to regulatory processes (Regtech) promises to make the financial system both more accessible and more secure.” – Christophe Chazot, Group Head of Innovation, HSBC I […]

Highlights of the 2016 Innoxcell Annual Symposium in New York City

Matt Wadley, our business development manager in the USA, recently attended the Innoxcell Annual Symposium on December 6, 2016 in NYC. Here he discusses some of the highlights of the event.  I looked forward to this event for a number of reasons, including the profile of the attendees, the speakers, and the subject matter up […]

Australian regtech start-up expands global reach in Singapore

Sydney-based regulatory technology start-up, GRC Solutions, has been acknowledged with a Premier’s award for its expanding international presence in Asia and North America. GRC managing director, Julian Fenwick, said that the nomination at the New South Wales Premier’s Export Awards in the education and training category was an important step forward for the fintech, as […]

GRC Solutions compliance workshops win acclaim in Asia and the Middle East

GRC Solutions has kept busy with its consulting services, recently rolling out its celebrated training workshops at key engagements in Asia and the Middle East. In October, Sam Gibbins (General Manager, Asia) led a series of facilitated workshops in Singapore and Kuwait on topics such as Values and Ethics, Anti-Money Laundering and becoming a Certified […]

Australian banks are spending $300 million per year on this

A startup wants to save banks hundreds of millions of dollars spent on compliance. An Australian startup is looking to help banks and financial institutions worldwide save on training, compliance and fines that can cost hundreds of millions of dollars. If the Parliamentary Inquiry showed us anything, it’s how important it is for banks to […]

ACCC enforces against unfair contract terms

A much-discussed new consumer protection law against unfair contract terms comes into effect this week in Australia. As of 12 November the Australian Competition and Consumer Commission (ACCC) moved from educating the business community about the new law to enforcing it. As of 12 November, the consumer protection law against unfair contract terms applies to up […]